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The Government invites friendly countries to renegotiate agreements
Posted On 09 May 2017
The Government says that bilateral investment protection treaties, signed by the country, were not decisive to attract foreign investment.
And that is one of the reasons to terminate those agreements. Last week, the Legislature approved the denunciation of 12 agreements. Legislators considered another reason: arbitration clauses are against the Constitution.
Yesterday, at the Yellow hall of the Carondelet Palace, the outgoing president received the report of the Integral Citizen Audit on Treaties of Reciprocal Protection of Investments, created by him in 2013. The mood was not favorable towards the BITs: for the government majority, these were “abusive” documents or an “attack on justice,” and there their negotiation was plagued with “negligence.”
Source: http://www.expreso.ec/
